{"id":19690,"date":"2013-01-10T21:23:21","date_gmt":"2013-01-10T20:23:21","guid":{"rendered":"http:\/\/feedproxy.google.com\/~r\/zerohedge\/feed\/~3\/VaCt8G-16h0\/story01.htm"},"modified":"2013-01-10T21:23:21","modified_gmt":"2013-01-10T20:23:21","slug":"quote-of-the-day-from-leon-panetta","status":"publish","type":"post","link":"http:\/\/rinf.com\/alt-news\/breaking-news\/quote-of-the-day-from-leon-panetta\/","title":{"rendered":"Quote Of The Day From Leon Panetta"},"content":{"rendered":"<div>\n<p>Pretty much sums up not only the present and future of US budget cuts, but everything else about the US:<\/p>\n<ul>\n<li><strong>PANETTA SAYS NO IDEA `WHAT THE HELL IS GOING TO HAPPEN&#8217; ON CUTS<\/strong><\/li>\n<\/ul>\n<p>He added the following:<\/p>\n<ul>\n<li>PANETTA SAYS SEQUESTRATION CUTS `SERIOUSLY THREATEN&#8217; STRATEGY<\/li>\n<li>PANETTA SAYS `MOST IMMEDIATE THREAT&#8217; IS FISCAL UNCERTAINTY<\/li>\n<\/ul>\n<p>And in other news:<\/p>\n<ul>\n<li>DEPUTY SECRETARY CARTER AUTHORIZES STEPS TO REDUCE SPENDING<\/li>\n<li>CARTER SAYS DEFENSE OFFICIALS CAN DISMISS TEMPORARY HIRES<\/li>\n<\/ul>\n<p>Don&#8217;t worry Leon: <em><strong>nothing<\/strong><\/em> will happen on cuts, because there will be no cuts, as reducing the US deficit will mean the Fed has to monetize <em>less<\/em> Treasurys, which means <em>less<\/em> reserves are created, which means the Primary Dealers have <em>less<\/em> dry powder to buy 3x beta stocks and less IG9 or 19 collateral, which means less &#8220;wealth effect&#8221;, which means the 1% status quo is unhappy.<\/p>\n<p>And the status quo can never be unhappy.<\/p>\n<div class=\"fivestar-static-form-item form-item\"><label>Average:<\/label><\/p>\n<p><span class=\"user-rating\">Your rating: <span>None<\/span><\/span> <span class=\"average-rating\">Average: <span>5<\/span><\/span> <span class=\"total-votes\">(<span>3<\/span> votes)<\/span><\/p>\n<\/div>\n<\/div>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/pixel.quantserve.com\/pixel\/p-89EKCgBk8MZdE.gif\" border=\"0\" height=\"1\" width=\"1\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pretty much sums up not only the present and future of US budget cuts, but everything else about the US:<br \/>\nPANETTA SAYS NO IDEA `WHAT THE HELL IS GOING TO HAPPEN&#8217; ON CUTS<br \/>\nHe added the following:<br \/>\nPANETTA SAYS SEQUESTRATION CUTS `SERIOUSLY THREATEN&#8217; STRAT&#8230;<\/p>\n","protected":false},"author":1213,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[487],"tags":[],"class_list":{"0":"post-19690","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-breaking-news"},"_links":{"self":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts\/19690","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/users\/1213"}],"replies":[{"embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/comments?post=19690"}],"version-history":[{"count":0,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts\/19690\/revisions"}],"wp:attachment":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/media?parent=19690"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/categories?post=19690"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/tags?post=19690"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}